See: The Benefits Of Setting Up A Revocable Living Trust Will Jim created his trust in 2005, when my brother and I read it in 2015 we found the trust included real estate that Jim sold years before and bank accounts that he’d closed since he created the trust.
Trusts And Wills Are Just The BeginningĪll personal finance experts recommend a Revocable Trust, a Will, a Health Care Directive and Durable Power of Attorney (POA) – below are some notes on why these items are just a start and why regular maintenance is required. Over the course of those three weeks my brother and I learned several things about preparing for death that we’d like to share so that others can avoid some of the same missteps we made. Jim spent a week in ICU, a week in a regular hospital room, a few days in a nursing facility and died on December 13, 2015. I got a call from my father’s neighbor who had taken my dad (Jim) to the ER the Saturday after Thanksgiving, 2015. The survivors will find out more private items than they care to know. Open discussions about illness and death related items (medical decisions, wills, etc) seem unsavory and an invasion of privacy – trust that not having a game plan makes the situation much more unsavory. The preparation is very simple – Talk openly and often about all issues related to death in advance of the inevitable so the survivors have a game plan and time to grieve. But really, this post can help someone prepare for any family member’s death. The purpose of this post is to help readers prepare for a parent’s death. We drowned our sorrows over free drinks at an airport hotel courtesy of United. The following guest post about preparing for death is by Chris Sipola, a reader I met while we were stuck in Frankfurt after our plane back to San Francisco broke down. Preparing for death is something we all should do.
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